2. Simon wants to accumulate an amount of money in an education fund at the end of 10 years. He deposits $1000 at the end of each month in the first five years, and deposits $1500 at the end of each month in the last five years. The interest is earned 3% per year. (a) Find the value of the investment after five years. (b) Find the value of the investment after ten years.
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end of each month in the first five years, and deposits $1500 at the end of each month in the last five years. The interest is earned 3% per year. (a) Find the value of the investment
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